Bunicorn is a DeFi-based gaming platform that is aiming to revolutionize and transform the blockchain gaming experience. It also offers a peer-to-peer marketplace for BSC-based non-fungible tokens, collectibles, and in-game items. As the platform expands to phase 2, it is launching a new play-to-earn game (Bunicorn Game). The game is an NFT RPG game that is inspired by Pokemon and deployed on the Binance Smart Chain network. Projects like Kyber Network already invested in Bunicorn, and since the IDO in July, the total value locked has hit $28 million.
The tokenomics of the game is designed to provide some benefits to gamers like low and manageable price rates and stable BUR payout rates. Also, both trainers and Bunicorns can be burnt in order to prevent inflation. A portion of the game’s revenue is distributed to incentivize BUNI token holders within the ecosystem. The Bunicorn’s play-to-earn game is the team’s first effort to create a tokenomic that ensures the sustainable growth of the play-to-earn schema. The game will comprise of two tokens, namely, BUNI and BUR. BUR (Bunicorn Universal Reward) token serves as the reward payout token, just like the Axie of Infinity.
The name Bunicorn leaves many people wondering why such a name for the platform. Do you mind telling people listening to you how the name Bunicorn came about and its significance?
Looking back when starting this project, I wanted to grow it to be a complete and effortless DeFi ecosystem, not just for the crypto community but everyone. And it won’t be just any mere project, I am going all in to make it big, like a “Unicorn” start-up, haha. So I decided to choose the name Unicorn. But since the name has already been taken, our team suggested changing it to Bunicorn, and I liked it.
I know that it might sound over-confident to others. But it was how I truly felt. And that feeling stays the same even until now. Our team and I will pour our heart and mind out for Bunicorn to make it truly a symbol of the DeFi world.
Aside from being a platform where gamers play-to-earn rewards, are there other services that the Burnicorn platform offers its users?
As mentioned earlier, we want to grow our project into a complete DeFi system for everyone. Therefore, aside from the Play-to-earn game, the Bunicorn ecosystem also owns various robust solutions, including:
AMM DEX: The main problems with DEX are the impermanent loss for liquidity pools and high slippage for stablecoin pools. Therefore, we made an effort to address all of the issues above by combining the best solutions of existing AMM platforms into Bunicorn DEX, including Flexible AMM pools with a customizable number of assets and weights, Amplified pools that allow swapping between stablecoins with lower slippage and higher capital efficiency, and many more.
Find out more about Bunicorn DEX here.
YIELD FARMING: We introduced a new liquidity mining model by wrapping up farming rewards (VBUNI) into NFT collectibles. Users can then use these NFT to convert VBUNI into the actual BUNI tokens after a vesting period. In the meantime, they can also trade/auction these NFT in other well-known marketplaces and make them liquidable. By doing this, users can find more value in yield farming and no longer feel the urge to dump the tokens they get from the mining pool immediately.
NFT MARKETPLACE: Currently, marketplaces like Opensea have too many categories of NFT, or other marketplaces only specialize in listing digital arts. The community lacks a marketplace for NFT games to exchange, buy and sell each game’s item. Therefore, we have decided to release a marketplace at the same time as our Bunicorn Game. Our players can both play to earn while freely listing and purchasing their desired NFTs to gain extra incomes within a synchronized platform on Bunicorn Game.
And we will continue to explore even more state-of-the-art products to complete the Bunicorn ecosystem delivering the utmost convenience to the community.
The mainstream adoption of blockchain technology has been on the lips of many analysts and thought leaders in the industry. In what ways is the Bunicorn platform helping to promote or support the mainstream adoption quest for blockchain?
I think gaming is the most accessible way to connect people to the blockchain at the moment. Since the decentralized game has already been a reality and there are 3.24 billion gamers across the globe for us to reach out to. We also consider this state of the industry when developing Bunicorn Game and the ecosystem around it. We will give gamers full control of their digital assets in a series of interconnected games in the universe, Play to Earn, then gradually making blockchain technology a part of their everyday lives.
The Bunicorn platform is built on the Binance Smart Chain. Are any specific reasons why you and your team decided on BSC over other blockchain networks like Ethereum, Polkadot, Solana, etc.? What added advantage does the BSC protocol offer the Bunircorn ecosystem?
The reasons that we chose BSC other than other networks vary, but I would say there are three main ones. First, BSC is fully EVM compatible, enabling integration with Metamask and making it effortless for users to switch EVM compatible chains like Ethereum to BSC. Secondly, BSC’s fee is low, especially when comparing with that of the Etherium network. This advantage attracts many users to our platform since it partly helps optimize their financial budget. And the last reason is that the BSC ecosystem is so diverse that it simplifies interoperability within our DeFi ecosystem a lot.
The Bunicorn platform is also an AMM DEX, and AMMs work best with token pairs that have a similar value to minimize the impact of impermanent loss. What modalities have you guys put in place to help ensure that the issue of impermanent loss is always negligible?
AMM was first introduced by Bancor and Uniswap about 3 years ago, but it still has many limitations such as impermanent loss, capital efficiency, slippage… Since then, many other AMMs have been born to overcome these limitations compared to the first version of Uniswap. Yet, the model is still not optimized and encounters some old issues.
Therefore, we have made an effort to combine the best solutions of existing AMM platforms into Bunicorn DEX and address all of the problems above. Users can quickly feel the ease of use and fewer risks when experiencing our features, including:
Flexible AMM pools with a customizable number of assets and weights within a pool. It mitigates the risk of impermanent loss when exposing half of your portfolio to a high volatile token in traditional 50:50 pools.
Amplified pools that allow swapping between stablecoins with lower slippage and higher capital efficiency.
Smart order routing that automatically splits your swap across several pools for optimized price.
Dynamic fees adjusted based on the underlying volatility to maximize returns for liquidity providers and encourage trading volume in a sideway market.
No third-party or centralized oracle risks.
Liquidity providers can also join multi-token pools with a single asset.
Projects like Kyber Network have invested in Bunicorn, and the total value locked (TVL) on the platform is relatively high at $28 million after one month since the IDO was held in July. What trajectory are you looking at from here? How is this helping to reposition your platform in the blockchain and crypto landscape?
Surely, we work days and nights to make all of those achievements come true. But I would like to express my gratitude to our community. Without their ongoing support from day 1, the Bunicorn would not be anywhere near to get that 28 million TVL or gain Kyber Network’s investment.
With such powerful and constant encouragement from our backers and community members, Bunicorn is now much more confident getting in the same line with other potential projects such as My Defi Pet, Zoon, etc. And for your information, we are also joining Binance Most Valuable Builder (MVB) III Program and take this opportunity to take Bunicorn to the next level. Let’s cross our fingers 😀
What is the mission and vision of the Bunicorn platform, and how do you and your team plan to make these goals become a reality?
We give gamers complete control of their digital assets in a series of interconnected games in the universe, Play to Earn, and take another step further to envision a better world by adopting blockchain technology in their everyday lives. We are now focusing on building a Bunicorn Game Universe for all users to gain extra income while having fun. From this solid foundation, we will further develop a complete ecosystem around it with DEX, marketplace, and auction. And there is a new plan to go for a brand new chain built by our team very soon.
You made mention of helping to drive the mainstream adoption of blockchain. In that light, has there been any collaboration or partnership deals with other projects further to expand your sphere of influence in the market?
We have done a lot of partnerships with listing platforms, NFT Games, technology and media providers, including Gamelancer, Chainlink, Coinmarketcap, Coingecko, DappRadar, Dapp.com, Coinstats, DeBank, GameFi, Tokenplay, Kryptomon, PolkaFantasy, RedKite, Coin98, ONTO, DefiLlama, Blockfolio, Math Wallet, Y10 Venture, Crypto Times, VNDC, Netvrk and many more to come.
What have been the major challenges in the industry, and how have you and your team been handling these challenges to get to where you are today?
There are many challenges, but the most vivid and influencing one should be the changing state of the blockchain industry. Aside from the volatility of cryptocurrencies, the technology evolving around blockchain is born new every day. It keeps asking us to run forward non-stop or else your project will get left behind in no time.
Our team and I are fully aware of this when joining the blockchain industry. To make our project adaptable to the market, we urge ourselves to adapt, too. Our development team constantly explores new solutions to satisfy the changing customers. You can see that we have released a new feature or product every single month without rest. And we will continue to stick with this pace and even go beyond the boundary to become the leading project in the blockchain world.
For someone that has been in this industry for quite a while, how long do you think it will take before there can be full-scale mainstream adoption of blockchain technology in our day-to-day lives?
This is a tough question indeed. I would not take risks to include all aspects of life while predicting blockchain adoption. But for the gaming and financial sectors, I think mainstream adoption of blockchain shall arrive in full-scale within less than 5 years in certain regions. We have seen a lot of banks, game developers have gradually been making their products decentralized, such as PlayStation Sony building The Six Dragon entirely on the Ethereum network, or JPMorgan and Citi reported to be using blockchain technology. The future is coming faster than we think.
